14.

A company began trading on 1 January 2018, preparing accounts to 31 December each year. As at 31 December 2019, the company adopted a new accounting policy with regard to the measurement of inventories. If the new policy had been applied in previous years, the company's inventory at 31 December 2018 would have been $70,000 higher than the amount originally calculated.

One of the following sentence is True: